Knowledge is power. In the banking and financial services industries, knowledge separates those who falter from those who prosper. Bodman is an unparalleled source of knowledge and experience in Michigan’s complex and competitive market.

Our group’s members have over 700 years of combined experience counseling banks, credit unions, savings and loan associations, and a variety of non-depository financial institutions, including equipment leasing companies and mortgage lenders. As one of Michigan’s largest law firms, we leverage our experience and resources to offer financial institutions advice across many practice areas.

Services

We represent financial institutions in every aspect of the credit cycle and in all aspects of their business. As one of Michigan’s largest and most successful law firms, we can leverage our experience and resources to offer financial institutions advice across many practice areas.

With access to the firm’s substantial intellectual property, mergers and acquisitions, tax, environmental, and real estate practices, our banking lawyers can offer financial institutions legal advice and solutions that are both sophisticated and practical. Our Banking Practice Group offers:

Representation of financial institutions as lead bank in multi-bank credit facilities

Workout and bankruptcy services, including counseling lenders on loan structure and lender liability issues, especially those relating to the covenant of good faith and fair dealing, fiduciary duties, equitable subordination, and fraudulent transfer

Formation of de novo banks and bank holding companies

Advice on federal and state regulatory matters; legal analysis and updates of legislative and regulatory developments; opinions; and in-house and group seminars

Litigation, including lender liability matters

Environmental counsel on legislative and regulatory developments and compliance

Employment issues, including wrongful discharge claims

Advice on the role of banks as corporate trustees under bond indentures and other debt issues

Review and negotiation of equipment leasing transactions, including equipment lease originations, purchase and sale of equipment leases, non-recourse and other financing related to equipment leases, and remarketing of off-lease assets

We have represented financial institutions in out-of-court workouts and in Chapter 11 and Chapter 7 bankruptcy proceedings involving all types of businesses and collateral, with special expertise in matters relating to post-petition financing, lifting automatic stays, and maximizing the realization of collateral value.

We have counseled many Michigan banks in their financing, acquisition and formation of de novo banks and bank holding companies.

We have documented significant real estate transactions in Michigan and nationally, including a luxury residential condominium project in Colorado, apartment complexes in Illinois and North Carolina, a 521-unit condominium project in Florida, a 179-site manufactured housing community in Pennsylvania, and commercial mortgages for a large brokerage firm in ten states.

We served as lead counsel on issues concerning the unauthorized practice of law in a series of class actions filed against several Michigan mortgage lenders challenging the charging of private mortgage insurance premiums.

We have represented financial institutions in lender liability claims resolved in favor of the financial institutions, including:

A foreclosure proceeding where the borrower and guarantors counterclaimed, alleging breach of contract, fraud and breach of fiduciary duty

A claim by a personal representative of an estate that a bank breached a loan agreement and acted unreasonably when it sold shares of stock pledged as collateral security for a loan

A claim by a borrower that a lender breached a contract, breached its fiduciary duties and committed fraud when it refused to renew a line of credit